Petroleum industry
Market expectations of rising fuel stockpiles and months of anemic demand have kept a lid on oil prices, sending benchmark U.S. crude-oil futures to a fresh eight-week low. The decline comes as the world's biggest oil consumer, the U.S., is seen to have stockpiles of refined
Petroleum industry
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Petroleum industry
Chevron Corp. and its partners may approve development of the A$50 billion ($39 billion) Gorgon liquefied natural gas venture in Western Australia as early as late August, according to a research note from JPMorgan Chase & Co. The project, which has signed fuel-supply agreements with Japanese utilities, has awarded
Petroleum industry
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Petroleum industry
The Russian stock market experienced a decline on Friday, influenced by falling crude prices, but bank shares managed to post slight gains. The RTS index dropped 1.06% to 950.24 points, while the MICEX edged down 0.31% to 974.07 points. Despite the overall market decline, bank shares
Petroleum industry
Crude oil prices retreated Tuesday after a decline in U.S. consumer confidence raised questions about the strength of petroleum demand. Light, sweet crude for August delivery traded $1.91, or 2.7%, lower at $69.58 a barrel on the New York Mercantile Exchange. The rally in crude prices
Petroleum industry
Crude oil prices extended their losses after the U.S. government reported a significant increase in gasoline stockpiles, exceeding analysts' expectations. Light, sweet crude for July delivery fell 93 cents, or 1.3%, to $69.54 a barrel on the New York Mercantile Exchange. The Energy Information Administration stated
Petroleum industry
The Russian stock market suffered significant losses on Wednesday, erasing June gains due to a decline in global stock indices and a further drop in oil prices. The RTS index fell 4.05% to 1038.41 points, while the MICEX plummeted 5.46% to 1039.43 points. The biggest decliners
Petroleum industry
A recent stock market update highlights strong earnings results from 99 Cents Only Stores, with revenue increasing 13% to $329.2 million and same-store sales up 6.2%. The company's earnings were $7 million, or $0.10/share, a significant improvement from a loss of $4.4 million,
Petroleum industry
Energy companies around the world have been investing heavily in developing new oil production capacity in recent years, but despite this, oil production in non-OPEC nations declined by 1.4% in 2008, the largest drop in 16 years. According to BP's 2009 statistical review, non-OPEC nations, which meet
Petroleum industry
Shares of mainland oil giants continued to ride the momentum of increasing international oil prices and Beijing's decision to hike petrol and diesel prices. Oil producer CNOOC outpaced refiner China Petroleum & Chemical Corp (Sinopec), while CNOOC's stock has surged 74.8% since the beginning of
Petroleum industry
Australia's oil and gas production has demonstrated resilience in the face of a global downturn, with increases in both crude oil and liquefied natural gas (LNG) output. According to EnergyQuest, the country's oil production rose 4.8% in the three months to March 31, reaching 27.
